BlackRock and JPMorgan among 35 companies building on Ethereum

Institutions use Ethereum to launch tokenized stocks, money market funds, stablecoins, and deposits.

In recent months, 35 of the world’s leading financial and technology companies, including BlackRock, JPMorgan and Fidelity, have launched new products and services built directly on the Ethereum blockchain.

These moves, detailed in a social media thread from the official Ethereum account, indicate a rapid acceleration in the tokenization of real-world assets (RWAs) by mainstream institutions.

The trend also highlights Ethereum’s emerging role as a fundamental clearing layer for global finance, moving beyond speculative crypto trading into stocks, bonds and institutional payments.

Institutions are encouraging tokenization and settlement on public railways

On January 19, the Ethereum X account stated that adoption by financial institutions had taken place acceleratedpointing to launches of tokenized stocks, money market funds, stablecoins and bank deposits.

For example, Kraken rolled out xStocks on its network, allowing eligible customers to move fully collateralized US stocks on-chain, while Ondo Finance launched a platform with more than 100 tokenized US stocks and ETFs backed by real securities.

Major asset managers have also made similar moves, with Fidelity launching its tokenized money market fund, FDIT, on Ethereum, and the Hong Kong arm of China Asset Management launching a tokenized USD money market fund, one of the first from a major Chinese asset manager. In Europe, Amundi introduced a tokenized share class of its Euro Money Market Fund on the Ethereum mainnet.

Banks have also expanded their footprint. JPMorgan moved its JPM Coin deposit token from an internal blockchain to Base, an Ethereum Layer 2, and later launched its first tokenized money market fund on Ethereum, seeded with $100 million of its own capital. Additionally, Societe Generale FORGE has deployed euro- and dollar-denominated lending and trading products on Ethereum-based DeFi protocols.

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Payments companies and fintechs joined in, led by Stripe’s expansion of stablecoin subscriptions using USDC on Ethereum, while SoFi issued SoFiUSD, becoming the first US national retail bank to launch a stablecoin on a public blockchain. In addition, Google announced a payment protocol for agents using stablecoins on Ethereum, built in collaboration with partners such as the Ethereum Foundation and Coinbase.

Network growth answers questions about scale and simplicity

The institutional pressure has been accompanied by a surge in on-chain activity, illustrated by Ethereum surpassing 30% of supply this month, with around 36.2 million ETH locked up, according to Ultrasound Money. Wallet creations also hit a record earlier this month, with nearly 394,000 new addresses in a single day on January 11.

At the same time, Vitalik Buterin, co-founder of Ethereum, warned on January 18 that the increasing complexity of protocols could weaken security and self-sovereignty in the long term, and urged developers to prioritize simplicity. His comments highlighted a tension between expanding institutional use cases and keeping the core protocol understandable and resilient.

The scale of the recent announcements shows how Ethereum and its Layer 2 networks are being used as testing grounds for regulated tokenized finance, from funds and equities to payments and settlements, while debates over governance and design continue in parallel.